Anti-aging treatment Market Share to Witness Steady Rise in the Coming Decade
Date
2/26/2021 9:17:22 AM
(MENAFN- Coherent market Insights) Anti-aging treatment is used for skin rejuvenation, reducing the effects of aging on the body. Non-surgical and minimally invasive aesthetic procedures are two major types of anti-aging treatments that are gaining popularity in the market. Also, cosmetic surgery such as facial fillers and laser resurfacing are popular method used to reduce the effects of aging on the skin. There are also many skincare products such as lotion and creams available in the market which contain collagen and elastin component for keeping skin healthy and firm.
The surging geriatric population and increasing disposable income of the population are driving the market growth of the anti-aging treatment. According to the data from United Nation, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Continuous technological advancement coupled with the growing sense of fashion and desire to look presentable is again propelling the market growth. Moreover, the rising medical tourism industry and an increasing number of anti-aging cosmetic procedures will further favor the market growth of the anti-aging treatment over the forecast period.
North America is expected to gain significant growth over the forecast period and this is attributed to the growing number of cosmetic procedures in the region due to high awareness regarding beauty and fashion. According to the American Society of Plastic Surgeons, in 2019, minimally invasive cosmetic procedures grew at a slightly higher rate than surgical procedures. 2019 marked the highest number of Botulinum toxin type A injections with over 7.69 million injections, and facial rejuvenation procedures. A total of 16.3 million cosmetic minimally-invasive procedures were performed in 2019.
Key Developments:
1. In February 2020, Perricone MD has launched an anti-aging hand treatment. The new product is part of its Cold Plasma Plus+ Collection. Cold Plasma Plus+ Hand Therapy, packaged in a stylish black tube, moisturizes and promotes signs of youthful-looking hands.
2. in October 2020, Prestigious and well-reputed Korean beauty aesthetics brand - Erlin Cosmetics of SH Cosmetics Group announced the launch of luxury anti-aging beauty products at the Cosmoprof Asia Digital Week featuring the brand’s unique N-BTX Microcapsule time-release ingredient delivery system.
3. In August 2020, Nordstrom launched a new beauty section that have full of anti-aging products
4. In February 2020, Devonian Health Group Inc. a clinical stage botanical pharmaceutical corporation announced it has signed an exclusive sales and marketing agreement with SkinSciPac Inc. to market worldwide cosmeceutical products derived from usage of its proprietary R-Spinasome® technology.
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